Azerbaijani Oil Price Rises In World Market
Date
7/13/2024 10:18:45 PM
(MENAFN- AzerNews)
In the global market, the price of one barrel of Azerbaijani oil
branded as "Azeri Light" amounted to $90.35, increasing by 0.59% or
$0.53 per barrel, Azernews reports.
The price of September futures for "Brent" crude oil amounted to
$85.03 per barrel.
The average price of one barrel of oil for Azerbaijan's state
budget this year is calculated at $75 per barrel.
It is worth noting that the lowest price for "Azeri Light" oil
was recorded on April 21, 2020 ($15.81), while its highest price
was noted in July 2008 ($149.66). Oil in Azerbaijan is primarily
extracted under a contract framework known as the
"Azeri-Chirag-Gunashli" (ACG) block. Under this contract, the State
Oil Company of Azerbaijan Republic (SOCAR) holds a 25% share.
MENAFN13072024000195011045ID1108435656
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.